AstraZeneca’s Promising Pipeline and Upcoming Catalysts Drive Buy Rating

Sachin Jain, an analyst from Bank of America Securities, maintained the Buy rating on AstraZeneca (AZN – Research Report). The associated price target remains the same with p14,500.00.

Sachin Jain has given his Buy rating due to a combination of factors including AstraZeneca’s promising pipeline and upcoming catalysts. The imminent release of Phase III data for Baxdrostat in resistant hypertension is a key event, with AstraZeneca projecting significant sales potential. The company anticipates Baxdrostat could achieve over $5 billion in sales, with a strong efficacy profile and a favorable safety differentiation compared to existing treatments.
Additionally, the first Phase III data for Dato-DXd in specific cancer indications are expected soon, which could further support AstraZeneca’s market position. Although these indications are considered smaller, they are crucial in maintaining the current consensus sales forecasts. The potential for AVANZAR in lung cancer represents a significant opportunity, with the possibility of unlocking a $5-10 billion market. Overall, these developments, alongside AstraZeneca’s strategic positioning and growth prospects, underpin Jain’s optimistic outlook and Buy rating.

In another report released on June 10, Goldman Sachs also maintained a Buy rating on the stock with a $0.00 price target.